Welcome to bloomberg surveillance. Theres plenty going on in the markets, not withholding everything going on with the Supreme Court, and we are just about 46 or 45 days away from that important u. S. Election. The picture on the market is not great for banks. You can see actually banks were down from 4. 1 . If you look at some of the things we should be watching out for, european stocks are dropping for a third day. Rising virus cases will lead to tougher travel restrictions. Lets get to first word news here in london. Leanne concerns are mounting the u. K. May need a second lockdown to stop the spread of coronavirus. Prime minister Boris Johnson is set to be told today that the nation is at a critical point in the pandemic. There are expectations that local restrictions could be extended into london. President trump is celebrating the tiktok deal, despite it falling short on some of his key demands. The apps chinese owners will still have an 80 stake in the the u. S. Source new jobs.
Down 600 points recently. We are not near a correction yet on s p, but we are getting there rapidly. I dont think this can be underplayed the virus, the pandemic is really front and center on a global basis, even with an america distracted by an historic moment. Momente and a historic that could possibly sway the election. Lets get to the bloomberg first word news in new york city with ritika gupta. Ritika good morning. The death of Justice Ruth Bader ginsburg has thrust the Supreme Court into the political spotlight. Republican leaders in the senate are hoping to rush through a replacement with President Trump expected to nominate his pick this week. Democrats are warning of a constitutional crisis. If joe budden wins the election but a trump candidate is still confirmed to the Supreme Court. President trump is celebrating the tiktok deal, despite it falling short on some of its key demands. The white house gets a promise of new jobs sources have told bloomberg that tiktok is taking a
You are, a lockdown. A judicial lockdown in washington as well. One of the tea leaves am looking at is strong in, really indicative of the correlated angst we are seeing right now strong yen, really into get of of the correlated angst we are seeing right now. Jonathan in europe, the ftse off by more than 3 . The dax off by 3. 25 . Europe also looking to washington. Let me be clear about that. That has been the conversation throughout the morning here in london. What do the evans over the weekend me for policy and washington, d. C. . The past toward the fisc or agreement much trickier now toward fiscal agreement much trickier now. Point, there was a huge worry on wall street about the period from november after the election went into the end of january. For market participants, they are probably a little more worried about that this morning. Tom not just 40 days away from the election. I think really unspoken in all of this is eight days to the first president ial debate. That has radic
The quality of our guests there, including Rebecca Patterson of bridgewater, saying complacency into october, ramp it up ritika . Right now ramp it up. Right now, we welcome all of you. It is simply a monday friend from what we knew friday. Jonathan it is not a quiet start to this monday morning. Equity futures down hard. A bid into the bond market. Stronger japanese yen. Everything you would expect to happen on a risk off monday is happening. When you look to europe and the prospect of tighter restrictions around some of these economies, look no further than travel stocks. Break it down sector dissector. Travel stocks down 5 . Tom what i find just extraordinary here is it is not just about the future of the Supreme Court after the death of ruth bader ginsburg. Theres many stories. To me, learning over the weekend about this new heightened pandemic is front and center. Jonathan lay it on the three dimensional Political Risk playing out in washington. The three di mentions are as follow
If you support the trumppentz political ticket, 202 7488001. Undecided, 202 7488002. You can also send us a text at 202 7488003. Wj orocial media, cspan facebook. Com fan. The Washington Post headed into the weekend. Put it this way. The economy, biden says its terrible. Trump touts positive job numbers. Joe biden sought to remind the country that the economy remains in shambles. He is leaving the country out of the worst economic crisis since the Great Depression. Sameifferent takes on the economy preview the arguments both men will make on a topic that typically ranks top of mind for voters but has been eclipsed by the coronavirus pandemic. Then said he will spend next three weeks contrasting his economic plans with trump. The president predicted more positive Economic Data in the future and a full recovery. Hads what the candidates to say about the most recent job numbers on friday. Saw largenths we declines in the Unemployment Rate. We are witnessing the fastest labor Market Recove